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[Bank Of England's Dhingra: Internal Divisions On Rate Cut Pace]Bank Of England Monetary Policy Committee (Mpc) Member Swati Dhingra Expressed Concerns On Monday About Signs Of Inflation Picking Up, Particularly After Excluding Housing Costs, With Producer Prices In The Services Sector Showing a Rebound. Meanwhile, The Labor Market Is Cooling, With Job Vacancies In Retail And Hospitality Sectors Potentially Declining, And While Wages Have Risen, Consumer Spending Has Not Followed Suit, Meaning Inflation Pressures May Remain Subdued.
Dhingra Noted That The Market's Interpretation Of a "Gradual" Rate Cut (25 Basis Points Per Quarter) Does Not Align With The Official Stance Of The Bank Of England. She Pointed Out That There Are Still Internal Differences Within The Mpc Regarding The Pace Of Future Rate Cuts. Known For Her Dovish Stance, Dhingra Had Supported a 50 Basis Points Rate Cut In The Last Policy Meeting.
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